CG Asset Management LLC cut its stake in NextEra Energy Inc. (NYSE:NEE) by 3.2% during the second quarter, Holdings Channel reports. The firm owned 7,300 shares of the company’s stock after selling 240 shares during the period. CG Asset Management LLC’s holdings in NextEra Energy were worth $952,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of NEE. AMP Capital Investors Ltd raised its stake in shares of NextEra Energy by 32.9% in the first quarter. AMP Capital Investors Ltd now owns 333,339 shares of the company’s stock valued at $39,503,000 after buying an additional 82,436 shares during the period. National Pension Service raised its stake in shares of NextEra Energy by 4.1% in the first quarter. National Pension Service now owns 237,508 shares of the company’s stock valued at $28,107,000 after buying an additional 9,426 shares during the period. Legal & General Group Plc raised its stake in shares of NextEra Energy by 2.6% in the first quarter. Legal & General Group Plc now owns 2,268,138 shares of the company’s stock valued at $268,404,000 after buying an additional 56,865 shares during the period. CIBC World Markets Inc. raised its stake in shares of NextEra Energy by 640.5% in the second quarter. CIBC World Markets Inc. now owns 27,887 shares of the company’s stock valued at $3,636,000 after buying an additional 24,121 shares during the period. Finally, Carroll Financial Associates Inc. raised its stake in shares of NextEra Energy by 3.0% in the second quarter. Carroll Financial Associates Inc. now owns 2,384 shares of the company’s stock valued at $310,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 74.51% of the company’s stock.
NextEra Energy Inc. (NYSE:NEE) traded down 1.84% during midday trading on Tuesday, reaching $118.90. 2,301,348 shares of the company’s stock were exchanged. NextEra Energy Inc. has a 12-month low of $96.19 and a 12-month high of $131.98. The stock’s 50-day moving average is $123.93 and its 200-day moving average is $122.72. The stock has a market capitalization of $54.93 billion, a price-to-earnings ratio of 21.28 and a beta of 0.28.
NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, July 27th. The company reported $1.67 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $4.33 billion. NextEra Energy had a net margin of 15.36% and a return on equity of 11.82%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.56 EPS. On average, equities analysts forecast that NextEra Energy Inc. will post $6.20 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 30th were paid a $0.87 dividend. The ex-dividend date was Friday, August 26th. This represents a $3.48 dividend on an annualized basis and a yield of 2.93%. NextEra Energy’s dividend payout ratio is currently 62.59%.
NEE has been the subject of several research analyst reports. Deutsche Bank AG lowered shares of NextEra Energy from a “buy” rating to a “hold” rating and set a $131.00 price objective for the company. in a report on Friday, September 23rd. Zacks Investment Research lowered shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Bank of America Corp. reiterated a “buy” rating and set a $149.00 target price on shares of NextEra Energy in a report on Tuesday, September 27th. KeyCorp reiterated an “outperform” rating and set a $134.00 target price (up from $126.00) on shares of NextEra Energy in a report on Tuesday, July 5th. Finally, Morgan Stanley reiterated a “buy” rating on shares of NextEra Energy in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of C$129.26.
In other NextEra Energy news, VP Chris N. Froggatt sold 16,467 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of C$127.61, for a total value of C$2,101,353.87. Following the transaction, the vice president now directly owns 22,916 shares in the company, valued at approximately C$2,924,310.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE’s operating segments are FPL, an electric utility, and NEER, an energy business.
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